08:28 AM EDT, 03/19/2024 (MT Newswires) -- Curaleaf Holdings Inc. ( CURLF ) , an international provider of consumer cannabis products, said Tuesday that it has agreed to buy Northern Green Canada, a vertically integrated Canadian licensed cannabis producer focused mainly on expanding in the international market through its EU-GMP certification.

The deal is expected to close in the second quarter of 2024.

"We expect the NGC acquisition to be a highly accretive deal that marks Curaleaf's ( CURLF ) first step into the Australasian markets, creating a true global cannabis company with global brands," Boris Jordan, executive chairman of Curaleaf ( CURLF ), said. "It allows Curaleaf ( CURLF ) to safeguard our position in Europe, enhancing our supply chain while increasing our margins."

Financial terms of the deal were not disclosed.